48731 Elkton, MI is a small town located in Michigan's Upper Peninsula with a population of just under 1,500. Rent for a 2 bedroom is $820, which is significantly lower than the US average of $1,430. Similarly, grocery costs are indexed at 90 versus 100 in the US. For those looking to move to Elkton, MI there are several local companies to choose from, including Mackinac Construction Co., Johaug Excavating and Demolition Services and Kirtland Lumber. These companies offer services ranging from construction and building to excavation and demolition services. Other businesses in the area include convenience stores, pubs and restaurants.
Elkton (zip 48731) has an unemployment rate of 5.7%. The US average is 6.0%.
Elkton (zip 48731) has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 14.3%, which is lower than the US average of 33.5%.
Tax Rates for Elkton (zip 48731)
- The Sales Tax Rate for Elkton (zip 48731) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elkton (zip 48731) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elkton (zip 48731)
- The average income of a Elkton (zip 48731) resident is $19,208 a year. The US average is $28,555 a year.
- The Median household income of a Elkton (zip 48731) resident is $46,083 a year. The US average is $69,021 a year.